Cousins Properties (CUZ) Q3 2026 earnings summary

Executive summary

• Strong leasing, rent growth and operating performance lifted Q3 FFO and supported higher FY26 FFO guidance; year-end occupancy target is 90%.

• Portfolio actions included selling One Eleven Congress, investing in 5th & Walsh preferred equity and forming a Dallas land joint venture.

Financial highlights

• Q3 FFO was $123.8M, or $0.75/share, versus $116.5M, or $0.69/share, a year earlier; revenue was $259.4M versus $248.3M.

• Q3 net income available to common stockholders was $17.0M, or $0.10/share, versus $8.6M, or $0.05/share; 9M net income was $18.3M, or $0.11/share.

• 9M FFO was $371.3M, or $2.23/share, versus $358.9M, or $2.13/share.

• 9M results included a $36.6M impairment related to One Eleven Congress and a $9.2M gain on the Research Park V sale.

Outlook and guidance

• FY26 FFO guidance increased to $2.95–$2.99/share from $2.92–$2.98; net income guidance rose to $0.14–$0.18/share from $0.08–$0.14.

• Higher FFO guidance primarily reflects leasing activity and fee income above prior forecasts; it assumes a Q4 sale of 303 Tremont land.

• Guidance excludes settlement of 3.9M forward-sold common shares and speculative acquisitions, dispositions or development starts.

• Year-end occupancy target remains 90%; longer-term ambition is 92%–93%+, with timing dependent on balancing occupancy gains and rental-rate growth.